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Tag: "economic news"

Don’t Count on Social Security for Retirement Income

The Social Security Administration reported at the end of 2011 that the retirement fund will probably run out of cash by 2036.  In 2008 the estimate was that the fund would fall short by 2041. Some analysts believe that Congress will eventually be unable to raise enough funds to fully fund the retirement account in [...]

What Does the $26 Billion Robo-Signing Settlement Mean?

Here is a great article about the recent $26 billion Robo Signing deal you might have heard about in the news.  It’s by Neil Garfield on his blog LivingLies – check it out! Many hat tips to Yves Smith and others who have pointed out that the grand settlement has neither been drafted nor signed [...]

Fed Pledges Low Interest Rates Through 2014

At the Federal Reserve’s latest meeting the Board of Governors decided to continue its policy of quantitative easing by pledging to maintain low interest rates at least until the end of 2014.  The action is based on analysis that anticipates unemployment will remain high and inflation will remain relatively low during that period of time. [...]

Voters’ Biggest Concerns: Jobs and Housing

A Houselogic survey demonstrates that voters are most concerned about jobs and housing policy as election year issues for 2012.  Respondents were asked: “What issue area will have the greatest impact on your vote in 2012?” Jobs were mentioned as the top issue by 54% of respondents.  The next most critical issue was housing, which [...]

Fiserv Optimistic About Housing Market Stability

Even though 2011 home values dropped an average of 5.1% and prices fell in 302 of 384 housing markets tracked by the Fiserv Case-Shiller Indexes, the picture should get considerably brighter as housing approaches 2013. Fiserv’s chief economist, David Shiff, believes that the housing market will see greater stability in 2012 than in the past [...]

Federal Reserve Beige Book Continues to Show Weak Economic Expansion

The quarterly report from the Federal Reserve branch banking system called “The Beige Book” is out with its latest round of observations about the In most regions the pace of growth is described as “modest” or “slight” and general business conditions are considered weak but moving forward on some fronts.  Notably, auto sales and tourism [...]

Improved 3rd Quarter GDP at 2.5%

Despite the generally glooming housing market and a shaky world economy, the 3rd quarter preliminary gross domestic product report released Oct. 27 by the Commerce Department is actually pretty good news.  The preliminary data shows a growth rate of 2.5% in the 3rd quarter after a 1.3% second quarter GDP. The preliminary report is based [...]

How Will European Bank Failures Impact U.S. Banks, Cities?

While the U.S. Stock Market seems temporarily comforted by statements from the major European Union powers that shaky banks in Europe will be bailed out, some analysts in the U.S. are not so convinced. Conservative analysts at Weiss Ratings maintain that bank failure in Europe will have a domino effect in the U.S. and will [...]

Are We in for a Triple-Dip Recession?

It’s part of what Clear Capital does to regularly get out the crystal ball and predict what will occur in the real estate market in the coming months. The market analysts at Clear Capital have published their first look at 2012 and believe it will be more of the same, or worse. In fact, Clear [...]

More on Attorney Generals Robo-Signing Squabble

As a result of the public objections New York Attorney General, Eric Schneiderman made concerning the impending settlement between the states and a group of major lenders over mortgage document improprieties, Schneiderman was dismissed from the Executive Committee for the settlement by its chair, Iowa Attorney General Tom Miller. Now 21 members of New York’s [...]